Internet Computer ($ICP) Targets $17 In January, $79 Long Term

Internet Computer ($ICP) coin continues its bullish trend, drawing significant attention from both traders and analysts. Analysts have a short-term target of $17.44 by January 2025 and a long-term target of $79.572, which shows a potential upside of over 621%.

Internet Computer Coin Current Market Performance

$ICP performance in the recent past demonstrates increased investor confidence and increased market volatility. At the time of writing, the price of $ICP was $12.16, and it has risen by 14.27% within the past 24 hours, with the buyers driving the price higher.

1-day ICP trading chart| source Coinmarketcap

The trading volume increased by 76.29% to $289.94 million, as the market capitalization went up by 14.51% to $5.82 billion. These metrics demonstrate ongoing and growing market engagement based on the continued utility and use of ICP.

At the moment, the market has 478.66 million ICP tokens in circulation with a total supply of 528.41 million tokens.

Bullish Projections from Analysts

Market analysts VipRoseTr and JavonTM1 have a positive outlook for both the short and long term. According to VipRoseTr, the bullish pattern will continue with a target of $17.44 by January 2025. This projection is based on a parabolic recovery following the recent pullback and the subsequent support level at $9.50–$9.80.

JavonTM1 on the other hand, has a more general view, and has a longer term target of $79.572 for $ICP. This is equivalent to a 621% increase potential if there is still a strong buying pressure and the ecosystem’s expansion.

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Source: X

Strong Technical Indicators Signal Sustained Uptrend

For $ICP, the technical situation is still favourable, as both analysts highlight key support and resistance levels. The bullish trendline extended from November is still providing support to the current structure.

This trendline has kept $ICP afloat and indicates that the uptrend is still valid.

Furthermore, the volume dynamics also confirm the positive outlook, as a gradual growth in activity corresponds to the recent price changes.

As the curve shown by VipRoseTr is parabolic, a sharp increase typical for the strong recovery phases can be observed. $12.90—$13.00 and $17.44 will be crucial levels for $ICP with some retracement likely at these levels.

Source: X

Support Levels and Risks for Internet Computer Coin

The support zones at $9.50-$9.80 have played a critical role during the recent correction, as buyers have stepped in to counter bearish pressure. If this level is breached, it would pose a significant risk to the bulls and could lead to more losses towards $8.05.

However, there are certain challenges that can be associated with the $ICP as a cryptocurrency. The overall recovery path is vulnerable to changes in volatility and sudden market movements especially where there is external shock that may alter investor perception.

Also, sell-off at higher resistance levels of $12.90 and $17.44 may push the price to some form of consolidation.

Long Term Vision and Ecosystem Development

The long-term potential of $ICP is fully connected with the further development of its ecosystem and its further uptake. Experts suggest that the market participants are paying attention to the ecosystem expansion, which is key to pushing the token price higher.

JavonTM1’s target of $79.572 suggests that $ICP will continue to trade upwards owing to strong technicals and growing involvement in the market.

The transition from a bearish market structure to a bullish one as seen in $ICP at the beginning of this year shows great potential for further growth. Holders seeking long term returns may be interested in $ICP if the token keeps on the current trajectory.

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